Hassan Maishera
Key takeaways
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Cryptocurrency custodian BitGo is seeking to raise up to $201 million in its IPO.
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The company is currently valued at $1.85 billion.
BitGo Seeks to Raise $201M in its IPO
Crypto custodian BitGo has announced plans to raise $201 million in its public market debut, setting its valuation at $1.85 billion.
BitGo is a US-based firm that offers a wide range of services, including self-custody wallets, regulated trust services, and prime brokerage. The company said it plans to sell 11 million shares at $15 to $17 each in the initial public offering. Another 821,595 shares are offered by insiders.
BitGo, which filed to go public in September last year, will be in line for $156.4 million in net proceeds if the share price is at the midpoint.
The company will be joining a host of other cryptocurrency companies in listing on the stock exchange. In recent months, Bullish, Circle, Gemini, and Figure have gone public.
BitGo’s IPO will also come after the company’s revenue surged to nearly $10 billion in the first nine months of 2025 from $1.9 billion over the same period in the prior year. The surge in revenue was attributed to high-volume trading and digital asset settlement services.
Thanks to the increase in revenue, BitGo hit $35.3 million in net income for the first nine months of 2025, up from $21.2 million in the year-earlier period.
This latest development comes three months after BitGo secured regulatory approval to offer specific services in Dubai. BitGo’s Middle East and North Africa (MENA) arm secured a broker-dealer license from the regulator, allowing it to provide regulated digital asset trading and intermediation services to institutional clients.
